If firms in a duopoly with homogeneous products compete on price, a Nash equilibrium is reached when each firm charges a price ________.
A) equal to its average cost
B) higher than its average cost
C) equal to its marginal cost
D) lower than its marginal cost
Question 2
A compensating wage differential is a wage premium paid in order to:
A) recognize a more efficient employee.
B) attract workers who have a family to support.
C) improve the goodwill of a firm hiring workers.
D) attract workers to otherwise undesirable occupations.
A comparison of gradualism and punctuated equilibrium.
Firms Incorporated into U.S. Steel
Alan Price - Poor People
Selected Natural Products
Common Fluoride Products
Competitive firms and maximization